Gold Price Forecast: Weak Jobs Data Fuels Rebound as Gold Eyes $4,350
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Key Points:
- Weak U.S. jobs data helped gold rebound above $4,000 as Fed rate hike expectations dropped.
- Gold must hold $3,950 and break above $4,350 to confirm the next bullish move.
- Central bank demand and the gold-to-silver ratio continue to support the broader metals outlook.
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Gold (XAU) prices recovered above the $4,000 level after weak U.S. jobs data reduced the expectation for a near term Fed rate hike. In my view, the rebound from the $3,950 support area keeps the long-term bullish trend intact. But gold must break above $4,350 to confirm a stronger rally toward $5,000. This article explains the jobs data, central bank demand, key technical levels and the gold-to-silver ratio that may define the next move in spot gold market.